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Monday, May 12, 2014

The Radish as a Marketing Case Study

One of the gems of spring is the humble radish. When we first started selling at the farmers market radishes were gong for 50¢ a bunch. They are way to much work to sell for that, so what we did to be able to sell more is a classic study in marketing...We raised our prices to $1.50 a bunch. We have some amazing radishes and would always make a nice big bunch. they would fly off the table even at 3 times the going price. It wasn't long until the rest of the market followed suite with similar pricing. 18 years later the price for a bunch of humble radishes is $2.50 and worth every penny.

I find that sometimes local farmers undervalue their produce, in terms of the value they are creating and what it costs to get the product to market. High quality produce is always in demand and the price is only one of the variables.

Taste, quality and nutrition are often way more important than the price.

This was a great teaching experience for my children and they often participate in our pricing decisions.

I think one of the great skills in life is to learn to create value.

One of the goals of our farm is to create value in terms of service, quality and nutrition...at a fair price.